According to CoinsPaid, after a 2022 full of economic and financial ups and downs, 2023 presents a boom that invites us to think that the winter of cryptocurrencies is behind us since they registered a significant increase in the number of transactions in the first quarter of the year.
In a press release, heThe cryptocurrency payment platform pointed out that the total volume of the first quarter was approximately 3,690 million euros (just over 4 billion dollars), this represented an increase of 37.73% compared to the same period of the previous year, and precisely an increase of 14.32% compared to the fourth quarter of 2022.
Ilya Shmakov, COO of CoinsPaiddeclared that the platform has been following a consistent growth since last year and they have noticed that this trend has been confirmed during this quarter. “With a possible global recession and the failure of some traditional banks, more and more people are embracing cryptocurrencies as a safe asset and fueled by the rise of Bitcoin and other currencies in recent months”he mentioned.
In this sense, they pointed out that the results of this quarter may be related to the recent rise of cryptocurrencies in April 2023 and the idea of a definitive end to the “crypto winter”. Besides, The company revealed that on April 1 they reached the milestone of 23 billion euros in cryptocurrencies processed through their platform., so they revealed that if bitcoin manages to break the $30,000 barrier and consolidate, they hoped to see a new big bull run soon not only for the company itself but for other cryptocurrency ecosystems around the world.
The popularity of virtual wallets and cryptocurrencies as a payment method
On the other hand, in a Coinspaid review of the Prime Time for Real-Time report published by ACI Worldwide in 2022, they noted that 195 billion real-time (PTR) digital payment transactions were recorded worldwide (a growth of 63.2 % in this payment method compared to 2021). In context, According to the platform, these numbers are due in part to the popularity of virtual wallets, which positions cryptocurrencies as a major payment method player in the near future.
In addition, The platform argues that with the recent crises at large traditional banks and the leverage of cryptocurrencies, not only users but also investors in crypto assets may see that fiat currencies such as the dollar are no longer the preferred currency for reserves. financial. And with that, cryptocurrencies, which are already witnessing more regulations, can gain a relevant space.
For his part, Ilya Shmakov stated that the adoption of cryptocurrencies continues to grow mainly due to its greater acceptance also as a payment method. “One of the advantages of cryptocurrencies is that they allow instant payments anywhere in the world at costs much lower than international remittance commissions, which becomes a viable solution for many companies that need to negotiate with suppliers from other countries. “he concluded.
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